ETF Managers Group LLC lifted its stake in Sirius XM Holdings Inc (NASDAQ:SIRI) by 8.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,023 shares of the company’s stock after purchasing an additional 1,792 shares during the quarter. ETF Managers Group LLC’s holdings in Sirius XM were worth $131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. National Pension Service lifted its stake in Sirius XM by 6.4% in the 4th quarter. National Pension Service now owns 2,217,167 shares of the company’s stock worth $13,126,000 after acquiring an additional 132,587 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Sirius XM by 11.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 496,400 shares of the company’s stock worth $2,835,000 after acquiring an additional 51,095 shares in the last quarter. Capital Financial Planning LLC purchased a new stake in Sirius XM in the 4th quarter worth about $61,000. Norinchukin Bank The purchased a new stake in Sirius XM in the 4th quarter worth about $72,000. Finally, Toronto Dominion Bank lifted its stake in Sirius XM by 20.8% in the 4th quarter. Toronto Dominion Bank now owns 241,833 shares of the company’s stock worth $1,380,000 after acquiring an additional 41,659 shares in the last quarter. Institutional investors and hedge funds own 18.69% of the company’s stock.
SIRI opened at $5.41 on Friday. Sirius XM Holdings Inc has a fifty-two week low of $5.33 and a fifty-two week high of $7.70. The company has a debt-to-equity ratio of 46.63, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $24.30 billion, a PE ratio of 20.81, a PEG ratio of 2.81 and a beta of 1.03.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be paid a dividend of $0.0121 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 19.23%.
Sirius XM declared that its Board of Directors has approved a share buyback plan on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several equities research analysts recently issued reports on SIRI shares. Zacks Investment Research raised Sirius XM from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Barclays set a $6.00 price objective on Sirius XM and gave the stock a “sell” rating in a research note on Saturday, February 2nd. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Thursday, April 25th. BidaskClub raised Sirius XM from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley started coverage on Sirius XM in a research note on Friday, March 15th. They issued an “equal weight” rating and a $6.50 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.29.
In other news, Director James P. Holden sold 63,067 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $5.68, for a total transaction of $358,220.56. Following the completion of the sale, the director now directly owns 248,137 shares of the company’s stock, valued at approximately $1,409,418.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Arthur Cady sold 588,503 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $6.13, for a total value of $3,607,523.39. Following the sale, the executive vice president now directly owns 1,840,070 shares of the company’s stock, valued at $11,279,629.10. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.
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Sirius XM Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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